Airbnb issues disappointing revenue guidance for second quarter

Airbnb CEO Brian Chesky appears at "The Game Plan: Strategies for Entrepreneurs" at Airbnb Open in Los Angeles on Nov. 19, 2016. Airbnb reported results for the first quarter that were mostly in line with estimates, but the company issued a disappointing revenue forecast for the current period. Shares declined about 4%. Here's how the company did compared to LSEG estimates: Earnings per share: 24 cents per share vs. 24 cents expected 24 cents per share vs. 24 cents expected Revenue: $2.27 billion vs. $2.26 billion estimate. Revenue increased 6% from about $2.1 billion a year ago. Net income fell to $154 million, or 24 cents per share, from $264 million, or 41 cents per share, in the same period a year earlier. For the second quarter, Airbnb said it expects revenue of between $2.99 billion and $3.05 billion, or $3.02 billion at the middle of the range. Analysts had forecast $3.04 billion in revenue for the current period. The company said it expects the period to include a two pe ... Read full article.